2025-0119
Meridian Senior Living LLC — commercial lease renewal, 220 S Michigan Ave
OpenLandlord/Tenant·Meridian Senior Living LLC·Opened Jun 28, 2026
Background
Renewal of a 14,000 sq ft office lease. Renewal option exercised. Negotiating base rent escalations, the operating expense stop and a one-time termination right.
File note
Landlord has agreed to the renewal in principle. Open points are the CAM cap and the termination fee formula.
Key dates
2 recorded| Date | Event | Type | Due |
|---|---|---|---|
| Nov 10, 2026 | Term sheet to be agreed | Review | in 6 days |
| Nov 21, 2026 | Renewal option exercise deadline under the lease Written notice must be delivered by this date. There is no cure provision — the option simply lapses. | Limitation | in 2 weeks |
Tasks
2 open · 0 completed| Task | Assigned | Due | Priority | Status | |
|---|---|---|---|---|---|
Send interim invoice to client | AK | 5 days overdue | Medium | Not started | |
Deliver written notice exercising renewal option No cure provision in the lease. Miss it and the option lapses. | AK | in 6 days | High | Not started |
Time recorded
5.0 hrs total · 5.0 hrs billable · $1,464.50| Date | Timekeeper | Narrative | Activity | Units | Value | Billed |
|---|---|---|---|---|---|---|
| Nov 02, 2026 | TB | Conference with client regarding termination right | Research | 1 · 0.1 hrs | $16.50 | WIP |
| Oct 27, 2026 | TB | Preparing revised lease amendment and issues list | Deposition | 2 · 0.2 hrs | $33.00 | WIP |
| Oct 23, 2026 | DR | Preparing revised lease amendment and issues list | Deposition | 10 · 1.0 hr | $340.00 | WIP |
| Oct 22, 2026 | AK | Preparing revised lease amendment and issues list | Research | 2 · 0.2 hrs | $59.00 | WIP |
| Oct 16, 2026 | AK | Conference with client regarding termination right | Deposition | 3 · 0.3 hrs | $88.50 | WIP |
| Oct 02, 2026 | TB | Reviewing landlord counterproposal on operating expenses | Drafting | 1 · 0.1 hrs | $16.50 | WIP |
| Sep 21, 2026 | AK | Preparing revised lease amendment and issues list | Research | 2 · 0.2 hrs | $59.00 | WIP |
| Sep 17, 2026 | DR | Preparing revised lease amendment and issues list | Drafting | 5 · 0.5 hrs | $170.00 | WIP |
| Sep 16, 2026 | AK | Conference with client regarding termination right | Conference | 1 · 0.1 hrs | $29.50 | WIP |
| Sep 14, 2026 | TB | Reviewing landlord counterproposal on operating expenses | Conference | 2 · 0.2 hrs | $33.00 | WIP |
| Aug 19, 2026 | AK | Reviewing landlord counterproposal on operating expenses | Court appearance | 3 · 0.3 hrs | $88.50 | WIP |
| Aug 12, 2026 | AK | Preparing revised lease amendment and issues list | Telephone | 3 · 0.3 hrs | $88.50 | WIP |
| Aug 06, 2026 | AK | Reviewing landlord counterproposal on operating expenses | Court appearance | 15 · 1.5 hrs | $442.50 | WIP |
Advanced costs
Money paid out on the client behalf, billed at costNo disbursements incurred.
Documents
5 on file| Document | Type | Ver. | Filed by | Filed | Size | |
|---|---|---|---|---|---|---|
| CAM reconciliation history.xlsx | Evidence | v1 | AK | Oct 20, 2026 | 3.8 MB | Download |
| Notice exercising renewal option.pdf | Correspondence out | v1 | AK | Sep 27, 2026 | 2.0 MB | Download |
| Engagement letter.pdf | Engagement letter | v1 | AK | Aug 21, 2026 | 344 KB | Download |
| Existing lease dated 09.03.2016.pdf | Contract | v1 | AK | Aug 11, 2026 | 1.5 MB | Download |
| Draft lease amendment (v3).docx | Contract | v3 | AK | Jul 22, 2026 | 1.6 MB | Download |
Bills
| Bill | Issued | Due | Fees | Disb. | Total | Outstanding | Status |
|---|---|---|---|---|---|---|---|
| INV-2025-0481 | Sep 12, 2026 | Oct 12, 2026 | $7,400.00 | $0.00 | $7,400.00 | $7,400.00 | Overdue |